Intestacy – or who inherits if there is no will!
Intestacy laws dictate that if you died without a valid will, the government would take your family wealth including but not limited to your family home, cash and business the fruit of your blood; sweat; toil and tears, distributes some it following rules of intestacy that are several centuries old the state has a will for you. Dying intestate means distribution of your wealth ignores your family needs or circumstances, it disregards your wishes and beliefs. Beneficiaries of intestate estate pay taxes on inheritance unnecessarily.
Someone once said [I forget with whom this saying should be credited], dying without recording ones testamentary wishes was at best an act of mischief on one’s family security as intestacy laws were not designed for swift administration of the deceased estate. Intestacy laws dictate a strict order in which your property would be distributed, and you wealth may go to distant relatives you never knew you had, or even those you positively would have disinherited in the excercise of your testamentary freedom with good reason.
Intestacy may result from either not making a will at all, or from having one that is rendered invalid usually because it was not correctly signed, or worse with the best of intentions, was not witnessed properly.
Making a Will
Making a will means you dictate how your wealth is distributed, follow a few simple rules and you protect your inheritance you get to decide who gets your assets and how much if any of your wealth would go to the state.
Death While Intestate
If you have a loved one who has died intestate, all is not lost, is possible to administer the estate cost efficiently and swiftly where the deceased has left no will.